Oil Exports to Rebound

According to a report from Reuters, exports from Iraq’s southern terminals have averaged 1.67 million bpd in the first 16 days of October, down from September’s rate of 1.82 million bpd and the 2.31 million bpd achieved in August.

But due to the reopening of all four of the crude loading berths at the al-Basra Oil Terminal (ABOT), the rate is expected to increase for the remainder of the month, bringing the average in October to around 2 to 2.1 million bpd.

October’s export rate from Kirkuk is expected to be about 250,000 bpd, similar to September’s, bringing total exports to arouond 2.25 million bpd.